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Market Snippet

Equity benchmarks fell 1 percent on account of profit booking and global growth worries, caution ahead of industrial production data for April, which is due tomorrow; also influenced the sentiment. Nifty lost 69.45 points to 8203.60. The key sectors which witnessed selling today included IT and FMCG and select Pharma names. Infosys topped selling list, down over 3 percent followed by ITC, HDFC, ICICI Bank, TCS, L&T and HUL with 1-2 percent loss. However, Reliance Industries, ONGC, NTPC, Coal India and Cipla outperformed, up 1.5-2 percent.
Global Markets Update:

  • The U.S. Department of Justice asked the Supreme Court to overturn an appeals court ruling that had favored Apple Inc over Samsung Electronics Co Ltd in Smartphone patent litigation, and asked that it return the case to the trial court for more litigation.
  • Samsung had appealed a federal appeals court ruling to the Supreme Court, which agreed to hear the case.

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